Much of the discussion at yesterday’s MetLife Investor Day conference took a deep dive into the company’s variable annuity line and how it’s managing those currently troublesome products. Though stressing it was a business the company is committed to, MetLife executives detailed the various strategies it now employs and others it may consider to compress risk in its variable annuities.
“There are risks there, no question,” said Steven A. Kandarian, chairman, CEO and president of MetLife. “But they are manageable risks and we are managing them. We are taking proactive steps. There is actually upside to that business. In a more normal interest rate environment with equities continuing to perform well over time, that business has significant upside.”